Mercury General Co. (NYSE:MCY) has been given a consensus broker rating score of 3.50 (Sell) from the two brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a sell rating and one has given a hold rating to the company.
Analysts have set a 12-month consensus price target of $53.00 for the company and are predicting that the company will post $1.00 EPS for the current quarter, according to Zacks. Zacks has also given Mercury General an industry rank of 81 out of 255 based on the ratings given to related companies.
Several brokerages have recently weighed in on MCY. Zacks Investment Research raised shares of Mercury General from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. ValuEngine lowered shares of Mercury General from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st.
Several hedge funds have recently added to or reduced their stakes in the stock. Foundations Investment Advisors LLC boosted its holdings in Mercury General by 22.1% during the second quarter. Foundations Investment Advisors LLC now owns 27,070 shares of the insurance provider’s stock worth $1,731,000 after purchasing an additional 4,900 shares during the last quarter. WINTON GROUP Ltd acquired a new position in Mercury General during the second quarter worth $435,000. Nisa Investment Advisors LLC boosted its holdings in Mercury General by 13.7% during the second quarter. Nisa Investment Advisors LLC now owns 15,400 shares of the insurance provider’s stock worth $963,000 after purchasing an additional 1,850 shares during the last quarter. NEXT Financial Group Inc acquired a new position in Mercury General during the second quarter worth $73,000. Finally, New York State Teachers Retirement System boosted its holdings in Mercury General by 0.5% during the second quarter. New York State Teachers Retirement System now owns 60,234 shares of the insurance provider’s stock worth $3,765,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 43.33% of the company’s stock.
NYSE MCY opened at $54.39 on Friday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.21. The firm’s fifty day moving average price is $54.68 and its two-hundred day moving average price is $56.37. Mercury General has a 1 year low of $48.23 and a 1 year high of $65.22. The firm has a market capitalization of $3.01 billion, a P/E ratio of 30.22, a price-to-earnings-growth ratio of 0.45 and a beta of 0.25.
Mercury General (NYSE:MCY) last issued its quarterly earnings data on Monday, July 29th. The insurance provider reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by ($0.17). The company had revenue of $936.10 million during the quarter, compared to the consensus estimate of $922.34 million. Mercury General had a net margin of 5.28% and a return on equity of 7.97%. Mercury General’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 earnings per share. On average, research analysts anticipate that Mercury General will post 3.19 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were paid a $0.6275 dividend. The ex-dividend date was Wednesday, September 11th. This represents a $2.51 annualized dividend and a dividend yield of 4.61%. Mercury General’s dividend payout ratio (DPR) is presently 139.44%.
About Mercury General
Mercury General Corporation, together with its subsidiaries, engages in writing personal automobile insurance in the United States. The company also writes homeowners, commercial automobile, commercial property, mechanical protection, fire, and umbrella insurance. Its automobile insurance products cover collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners' insurance products cover dwelling, liability, personal property, fire, and other hazards.
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